Posts with tag 'bend real estate'

Buying a new home can be one of the most exciting real estate experiences for homeowners. Besides the possibility of picking out colors and interior finishes, being the first to hang a picture, to cook in the kitchen, to move in furniture can all  create memories which turn a new house into a home to treasure for years to come. However, there are several things which home buyers need to be aware when purchasing a new home.

First, when buying in a subdivision, typically the asking price is the price a buyer should expect to pay. The builder, unless he/she has excess inventory which is not moving, needs to keep the price where it is so that future homes he/she builds have good comparables. Sometimes a buyer can negotiate a refrigerator, A/C, fenced backyard, backyard landscaping to be included at the list price, but it is very difficult to get the builder to reduce the asking price. And the earnest money put down on t...

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At the Oregon Association of Realtors' annual conference last week, several presentations touched on recreational marijuana use within the state. We are now 1 year into legalized recreational marijuana and some of the rules and regulations which govern this use have been implemented. Anyone who wishes to engage in the growing, distribution or sales of recreational marijuana needs to be aware of these rules and regulations but also aware that the possession, growth and distribution of marijuana remains a federal crime subject to prosecution, should the Department of Justice ever choose to enforce the federal laws; the Cole Memo has outlined that at the present time, the federal government has elected to keep away from enforcing drug laws in states which have legalized marijuana use.

In Oregon, several counties - mostly in Eastern Oregon - have decided to keep the growing and distribution of marijuana illegal. In Desch...

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Bend Premier Real Estate Brokers worked last Saturday as part of Central Oregon Association of Realtors Adopt a Road. The Brokers worked for several hours on 14th Street between Newport and Galveston. When they were done, they had collected several bags of trash and weeds; the roundabouts at Galveston and Newport looked manicured and cared for. Nice job Dan Cardot, Bill Raven, Sherry Ortega, Jack Zika, Anita Keller, Pualani Helmbrecht, and Stu Hicks!

The trend continues upward with Bend real estate. Data from August, 2016 continues to show strong sales and increased values for Bend single family homes. When compared with August, 2015, the average active home price is up 12.6% and the average sold price is up 8.9%. There are 1.2% fewer Bend homes for sale than a year ago with 6.3% more having sold;*  this continues the issue we have had all year with great demand and insufficient inventory to keep up with this demand.

One step to help with the insufficient inventory was made earlier this week when the Bend City Council gave initial approval to the plan to expand Bend's urban growth boundary by 2,380 acres. The plan, if accepted by the state, would allow for more than 17,000 additional homes to be built in Bend along with room for additional employment opportunities. Bend has been working on expanding the urban growth boundary for over 10 years and the need for th...

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A growing concern with appraisals has impacted Bend OR real estate transactions within the last few months. The concern does not revolve around the value of the property, but instead, whether or not the home can be evaluated by a licensed appraiser within the time allotted within the contract. Changes to lending requirements implemented last October due to federal regulations (i.e. TRID) have extended the timeframe for most home buyers using a loan to purchase their property. Escrow timeframes under TRID have increased from 30 days to 45 on average. Real estate professionals have adjusted to the lengthened timeframe for most property purchases when loans are involved to accommodate TRID requirements. However, the newest problem, just seen within the last few months, involves appraisals. Home values in the Bend real estate market are rising and appraisals, in general, are coming in fine with the value the appraiser assigns to the property. However, the ti...

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